Hyundai Heavy Industries Co., a major shipbuilder here, said Thursday it received an US$390-million order to build two liquefied natural gas (LNG) carriers. Under the deal with an unidentified European shipping company, Hyundai Heavy will deliver the two ships, with capacities of 180,000 cubic meters each, from 2022. The LNG ships, to be equipped with its latest fuel-saving technologies, will allow the customer to save US$1 million in fuel costs, the company said. With the deal, the shipbuilding conglomerate has secured orders to build five LNG carriers so far this ...

Independent Angolan diving services company OCTOMAR Serviços Marítimos Limitada has taken delivery of its first vessel from the Damen Shipyards Group; a Fast Crew Supplier (FCS) 2206. The vessel was selected for its ability to undertake a variety of roles, including supporting diving operations and deploying an observation class ROV operations to undertake subsea inspections and repair and maintenance work on offshore facilities. OCTOMAR’s FCS 2206 – OCTOSTAR will also be used to transport passengers and act as a standby and security vessel. The 22-metre FCS 2206 is the new ...

The Shipbuilders Council of America (SCA), the national trade association representing the U.S. shipyard industry, hosted its annual spring meeting in Washington, D.C. this week and honored U.S. Senator Susan Collins (R-ME) as a 2019 recipient of SCA’s prestigious Maritime Leadership Award. As recipient of the Maritime Leadership Award, Sen. Collins is recognized as an exemplary leader in Congress who has demonstrated outstanding dedication and support of the U.S. shipbuilding and repair industry. Overall the American maritime industry, including shipbuilding and repair, creates more than 650,000 jobs nationwide, and contributes ...

Shares in Hanjin Heavy Industries & Construction Co., a midsized South Korean shipbuilder, resumed trading on the Seoul bourse Tuesday following its financial restructuring efforts. Hanjin Heavy’s stock trading had been suspended since February due to capital erosion. The shipyard saw its losses snowballing to 1.32 trillion won (US$1.15 billion) last year, from a loss of 278 billion won a year earlier as it reflected losses from its ties with its Philippine affiliate, which received approval for a rehabilitation scheme in January. The creditors, including the state-run Korea Development Bank, ...

Over four days in January, Damen Shiprepair Brest successfully carried out repairs to the hull of the 266-metre, 138,000m³, LNG Carrier LNG Methane Princess. In order to achieve this in the minimum time it was done while the vessel was both afloat and with the cargo tanks holding either some liquefied gas and gas vapour. The damage, which occurred above the waterline on the aft starboard side, was the result of a collision with a harbor tug while berthing at the Punta Europa LNG Terminal (EG LNG) in Equatorial Guinea. ...

GTT has received an order from the Korean shipyard Samsung Heavy Industries (SHI) for the tank design of a new 174,000 m3 LNG Carrier (LNGC), on behalf of the Japanese ship-owner Nisshin Shipping Co. The tanks of the ship will be fitted with the Mark III Flex membrane containment system. The delivery is scheduled during the first quarter of 2022. Philippe Berterottière, Chairman and CEO of GTT, declared: “We are very pleased to receive this new order from Samsung Heavy Industries for the benefit of Nisshin Shipping Co., an owner ...

Australian shipbuilder Incat has secured a contract to build the world’s largest aluminium ship. Incat Tasmania Pty Ltd will build the 130 metre long ship for long standing customer, Buquebus to operate between Argentina and Uruguay. The completed vessel will be the largest aluminium ferry ever built and the ninth vessel for Incat’s valued South American customer. The 130-metre ferry will join the other Incat ships already serving various ports on the River Plate (Rio Plato) between Argentina and Uruguay. At a probable 13,000 gross registered tonnes the 130-metre long, ...

UK towage company SMS Towage has purchased two tugs from Damen Shipyards. The first vessel, called Manxman, was handed over on 12 April, just seven days after contract signing. The contract for the second vessel, to be called Marksman, was signed on 1 May with a delivery date scheduled for 7 June. Both vessels are Damen ASD Tugs 2411, and mark the first Damen tugs for SMS Towage. Established in 2002, SMS Towage started towage activities on and around the Humber Estuary on the UK’s east coast. Since then the ...

Tough market conditions led the volume of new ship orders received by China’s shipbuilders during the first four months of this year to plunge by 47.3% on year to the equivalent of 9.49 million dead weight tons (dwt), according to the latest release by the China Association of the National Shipbuilding Industry (CANSI) on May 17. “Over January-April, the global freight market was fragile and weak in general, a situation that caused continuing declines in new orders worldwide,” CANSI stated. However, it noted that during January-April the speed of the ...

Danfoss, a leading company in global energy efficiency solutions, signed a memorandum of understanding (MOU) with the Chuja Island shipowners’ council on May 10 in conjunction with the sixth International Electric Vehicle Expo held on Jeju Island. This MOU was signed in response to the Jeju Special Self-Governing Province’s Carbon Free Island (CFI) policy to drive the revitalization of regional economies such as energy self-reliance, improving fishing competitiveness and eco-friendly experience tourism, and to lead the market by suggesting the direction of development of domestic and foreign islands, a Danfoss ...

The jobless rate in Ulsan, home to major shipbuilders here, rose sharply in the first quarter of the year, government data showed Thursday, in the latest sign of the fallout of massive corporate restructuring moves. The unemployment rate in the country’s southeastern port city stood at 5.3 percent in the January-March period, representing a 1.5 percentage point increase from a year earlier, according to the data compiled by Statistics Korea. The statistics agency said restructuring and low demand in auto and shipbuilding industries are to blame for the hike in ...

Ensco Rowan plc announced that an arbitration tribunal has awarded the Company $180 million in damages in its proceedings against Samsung Heavy Industries, a shipyard in South Korea (“SHI”). Further, the Company will be claiming interest on this amount and costs incurred in connection with this matter. In April 2016, the Company initiated arbitration proceedings in London against SHI for the losses incurred in connection with a drilling services agreement for ENSCO DS-5 that was voided by a customer. In January 2018, the arbitration tribunal issued an award on liability ...

On 15 May 2019, Damen Shipyards Group and De Beers Marine Namibia (Pty) Ltd participated in a special steel cutting ceremony to mark the beginning of construction on a new offshore vessel. In February 2019, De Beers Marine Namibia awarded a contract to Damen to build a new crawler diamond recovery vessel for offshore operations in Namibia. At 177 metres (577 feet) long, the new vessel will be slightly larger than the current largest vessel in the De Beers Marine Namibia fleet, Mafuta (174 metres, 571 feet). Constructed from a ...

Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder here, said Friday it has secured 480 billion won (US$401 million) as it delivered a drill ship to an Angolan customer. Daewoo Shipbuilding said it handed over the last of two drill ships to the Angolan state oil company Sonangol, which ordered the two drill ships from the South Korean shipyard in 2013. The first drill ship was delivered in March after resolving a yearslong dispute over a delay in delivery. The payment from the latest delivery will provide fresh liquidity ...

Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder, said Wednesday that its first-quarter net profit fell 13.7 percent from a year earlier as sales declined. Net profit reached 195 billion won (US$164 million) in the January-March period, compared with 226 billion won in the same quarter of last year, Daewoo Shipbuilding said in a regulatory filing. Operating profit slipped 33.2 percent on-year to 199 billion won, while sales declined 8.2 percent on-year to 2.07 trillion won, according to the company. Despite a decline in profits, the company ...